IDP-Core: Novel Cooperative Solution for Differential Games

Ovanes Petrosian and Victor Zakharov
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Ovanes Petrosian: College of Mathematics and Computer Science, Yanan University, Yan’an 716000, China
Victor Zakharov: Faculty of Applied Mathematics and Control Processes, St. Petersburg University, Universitetskaya naberezhnaya 7-9, 199034 St. Petersburg, Russia

Mathematics, 2020, vol. 8, issue 5, 1-20

Abstract: IDP-core is a new cooperative solution for dynamic and differential games. A novel approach of constructing solutions for dynamic and differential games was employed in which the time consistency property was used as the main axiom property for the cooperative solution. Another new and important approach used for constructing IDP-core is the IDP dominance, which allows to select undominated imputation distribution procedures and construct the cooperative solution or imputation set. This approach shows the potential of using the time consistency property as the main axiom for solutions in various fields such as Social Choice and Mechanism Design. The overall procedure for defining the cooperative solution is also new since IDP-core was constructed using imputation distribution procedures but not by using imputations directly.

Keywords: differential games; cooperative differential games; Time Consistency; IDP-core; IDP dominance (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2020
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